Miranda Cosgrove surprised 'iCarly' fans with a surprise updateMiranda Cosgrave revealed good news for the iCarly fans.In a conversation with Natalie Morales on The Talk, the Nickelodeon star teased a potential new project in the iCarly universe to give fans the closure they yearned for following...

Trump Signals potential action on Prince Harry's visaDonald Trump's re-election bid has sparked new attention on Prince Harry's US visa status, with some speculating that the incoming President may take action if the Duke of Sussex is found to have lied on his visa application. Speaking ahead...

Blake Lively, Ryan Reynolds make heartwarming move following grand donationRyan Reynolds and Blake Lively throw a special surprise for a Deadpool fan battling cancer.The power couple stunned fans with a heartwarming gesture, inviting Deadpool fan Riley to a Wrexham game in a heartfelt...

The pair tied the knot in 2018 and share two children togetherLaura Prepon and Ben Foster’s marriage has reached its end after five years together.Court documents obtained by People magazine reveal that Foster, 44, recently filed for divorce from the That ’70s Show alum, also 44,...

Kate Middleton mulls inviting Prince Harry to attend her Christmas eventKate Middleton, who has teased festivities for her upcoming Christmas carol service, reportedly wants her brother-in-law Prince Harry to attend her event.The Princess of Wales is said to be making efforts to heal rift with the...

Lili Reinhart reflects on 'shameful' journey of being a starLili Reinhart, who rose to immense fame after her iconic character as Betty Cooper in mystery drama, has spilled the beans on her personal struggles of her career. The 28-year-old star recently revealed that she has been facing...

Bob Dylan biopic 'A Complete Unknown' is set to release on December 25Timothée Chalamet, who has been taken on-board to play Bob Dylan’s biopic, revealed that the veteran singer and songwriter made alterations in the script of the upcoming movie. Wonka actor shared that Dylan was the...

Eve Hewson expressed she is hesitant to reprise her role for a potential new season. Eve Hewson, Irish actress, has finally voiced her opinion on the famous dance montage from the hit Netflix show The Perfect Couple. In her Byrdie cover story, the 33-year-old revealed that the cast was...

Liam Payne dies at the age of 31 after falling from the balcony of hotel in Buenos AiresLiam Payne’s girlfriend Kate Cassidy opened up about the 'ultimatum' she gave to the singer before his tragic death.A close source revealed that, Liam’s excessive use of drugs constantly created a...

My Chemical Romance fans are in for a nostalgic thrill next summer.The rock band announced they’ll perform their iconic 2006 album The Black Parade in its entirety on a North American stadium tour starting July 11, 2025, in Seattle. The tour spans 10 cities, including major stops in Los...

Robbie Williams reflects on Liam Payne's deathRobbie Williams is reflecting on Liam Payne's death almost a month after the singer tragically passed away.The former One Direction singer plunged to death from the third-floor balcony of his hotel in Buenos Aires on October 16.The Argentinian...

King Charles receives heartbreaking news about key aideKing Charles III, who's strengthening his reign with his bold decision while battling cancer, has received a bad news about his close aide.The 75-year-old monarch's private secretary Clive Alderton is reportedly considering...

Gabriel Macht reveals his brother believed he was just like his character from 'Suits'Gabriel Macht, American actor, wanted to be as far away as possible from his beloved fictional persona, Harvey Specter. The actor revealed the reason why he holds no interest in living the life the way...

Jim Carrey, Keanu Reeves and Idris Elba to star in 'Sonic 3'Sonic the Hedgehog 3 end will be putting the basis of the fourth installment. Director, Jeff Fowler revealed that he has been talking to his team about ongoing 'fan debate online' surrounding what characters the franchise can further add...

Lupita Nyong’o makes major move into Christopher Nolan’s star-packed untitled mystery film Lupita Nyong’o is the latest actor to join the star-studded ensemble of Christopher Nolan’s next highly anticipated film.Following the casting announcements of Anne...

Kristin Chenoweth expresses feelings of being a wife of 14 years younger husbandKristin Chenoweth, the Emmy-winning actress and singer, spoke from the heart revealing how it feels to be older than her husband, Josh Bryant.Despite the 14 years of age difference between them, the couple have been...

Selena Gomez and David Henrie reunited in the pilot premiered in October 2024Selena Gomez isn’t done being Alex Russo just yet. The actress and singer, 32, confirmed that her iconic character is set to make a comeback soon after appearing in the pilot episode of Wizards Beyond Waverly Place....

Sydney Sweeney calls out Hollywood for being 'fake'Sydney Sweeney, American actress who rose to fame with her iconic character in drama series Euphoria, gave a peek behind curtains and revealed a harsh reality of Hollywood. The 27-year-old actress shared her frustration with how the industry...

Taylor Swift depicts love for easter eggs with newly launched fashion wearTaylor Swift's have launched winter wear festive collection, comprising of cheerful garments, snug knitwear along with some Easter eggs.The 34-year-old has unveiled a luxury range, showcasing products drawn from each of...

Gwen Stefani set to release fourth solo album on FridayLegendary musician Gwen Stefani looks back at the making of the breakthrough album of her solo career Love.Angel.Music.Baby., as she marks 20 years of releasing it.Discussing the album, the popstar said, "At that point, things were unhinged,...

Sir Elton John has severe eye infection which has affected his vision in one eyeSir Elton John has unveiled what he wishes to have as his last meal before dying amid health scare. John has successfully managed to control his blood sugar level ever since he has been diagnosed with type 2 diabetes....

King Charles recently axed the Duke of York's £1million-a-year allowancePrincess Eugenie and Princess Beatrice are reportedly deeply concerned about their father, Prince Andrew, as his mental and emotional well-being continues to decline.Sources close to the family have revealed that the...

The actress assured fans that Season 3 is still on track to begin filming in January 2025Zendaya is setting the record straight after claims surfaced suggesting she was behind the long delays for Euphoria’s highly anticipated third season. In a November 13th interview with Vanity Fair, the...

John Krasinski reportedly could not believe being named the Sexiest Man AliveJohn Krasinski as 2024’s Sexiest Man Alive invoked a mixed reaction from social media, pleasing some fans while leaving the others disappointed. Meanwhile some social media users have found an interesting link...

Zendaya got candid on how she feels working with her beau Tom Holland.While joining the star-studded lineup on the cover of Vanity Fair’s 31st Annual Hollywood Issue, the actress shared about the “chemistry” she has with Holland when the couple is working together.When asked if...

Katy Perry dishes on her plans for the next yearPopstar Katy Perry had some big secrets up her sleeve that she just shared with fans.The 40-year-old songstress took to Instagram and shared a reel announcing her Mexico tour next year.The video clip shows a montage of the Teenage Dream singer...

Jude Law on signing up for 'Alfie', 'bad move' Jude Law regretted making that one “bad move” that pulled him down from a “strong position” in Hollywood.In an interview with GQ Magazine UK, Law revealed that taking on the lead role in 2004’s Alfie was a “bad...

John Krasinski knew Emily Blunt was the right one for him “the second” he met her.In an interview with People for his Sexiest Man Alive cover story, he recalled the spark he felt in him when he met her Blunt.“I don't know what happened, but I remember someone introduced us, and...

Zendaya revealed that the Challengers cast still stays in touch with a “group chat”.In a conversation besides the star-studded lineup for the cover of Vanity Fair’s 31st Annual Hollywood Issue, the actress revealed what role she plays amongst the members of the...

Rob Lowe responds to Joan Vassos' confessionRob Lowe wants to be Golden Bachelorette Joan Vassos' Golden Bachelor.During an October 16 appearance on Jimmy Kimmel Live, The Golden Bachelorette star Joan Vassos shared that she had been an extra in the 1985 film St. Elmo’s Fire and hinted...

John Krasinski on Emily Blunt and 'A Quiet Place' John Krasinski reflected on how working with wife Emily Blunt in the The Quiet Place films made the franchise a success.“It turned out to be incredible,” Krasinski recalled of the “thrilling” experience on the...

Ariana Grande felt 'obsessed' with 'munchkins' on 'Wicked' setAriana Grande had a “wicked” obsession.Grande felt “immediately obsessed” the first time she saw the Munchkins on the Ivinghoe set of Wicked back in 2022.“She was just obsessed immediately. She wanted her...

Whoopi Goldberg faces backlash over 'working' class statement Whoopi Goldberg has “got to be one of the most tone deaf celebrities”, according to her fans-turned-critics.The View co-host is facing criticism for describing herself the same as the working and middle-class Americans,...

Nicole Kidman reveals she wants to work with THIS movie-makerNicole Kidman has recently taken a subtle dig at one of the iconic directors in Hollywood for his male-centered movies.In a new interview with Vanity Fair, the Stoker actress responded to a question about any notable movie-maker...

King Charles issues message after solo appearance at ‘Gladiator II’ premiereKing Charles appeared in high spirits as he stepped out on the red carpet for Gladiator II world premiere in London on Wednesday.The monarch, who is a patron of The Film and TV Charity, attended the 72nd Royal...

Kim Kardashian has recently reflected on navigating parenthood in the absence of her former husband Kanye West for 57 days.Speaking on November 12 episode of iHeart What The Winkler? Podcast, the SKIMS founder opened up about parenting alone these days without ex-husband Kanye, who is in Japan...

Buckingham Palace sets Changing of Guard ceremony to ‘Gladiator’ themeAhead of the Wednesday world premiere of Gladiator II at the Odeon Luxe in London’s Leicester Square, the Buckingham Palace had a special theme set for the Changing of the Guard ceremony.A special recital of...

Abdelatty met with a number of key officials in the country and reiterated his support for Lebanon and a ceasefire between Israel and Lebanon.

Nadhmi Al-Nasr’s successor, Aiman al-Mudaifer, currently head of PIF's Local Real Estate Division, will serve as Neom’s acting CEO.  

Connecting Iran's Shetab interbank network to the Russian system enabled collaboration, reducing reliance on the global SWIFT network, which has excluded Iranian banks since 2018.

Israel's military campaign against Hamas and Hezbollah could reshape Middle Eastern alliances and weaken Iran's regional influence.

IDF soldiers operated in both Gaza and southern Lebanon, where they eliminated terrorists and terror infrastructure.

RAWALPINDI: The National Assembly’s Standing Committee on Aviation was informed that the Civil Aviation Authority (CAA) has not undergone a formal audit for the past decade, raising concerns about its regulatory compliance and safety oversight. Four aircraft accidents happened during this period, underscoring the need for improved operational protocols.

The fourth meeting of the Standing Committee on Aviation was held on Wednesday, chaired by MNA Nawabzada Iftikhar Ahmed Khan Babar.

The ministry concerned confirmed that the CAA has not undergone a formal audit for the past decade. The standing committee called for provision of all communications between the CAA and International Civil Aviation Organisation (ICAO) to the committee regarding the lack of audits and their impact on the safety of passengers.

The committee was informed that the ongoing privatisation of PIA has led to suspension of staff transfers, postings, promotions, and the usual practice of rotating employees every three years.

Furthermore, financial constraints within the CAA have prevented necessary aircraft engine overhauls, reducing the operational fleet to just five aircraft and raising safety concerns.

The committee also expressed grave concern over the non-implementation of a National Assembly resolution passed on October 13, 2022, which called for renaming “Islamabad International Airport” to “Shaheed Benazir Bhutto International Airport”.

Despite the resolution being passed nearly two years ago, no action has been taken to fulfil this directive, prompting widespread criticism from various quarters.

During the discussion of issues related to the Multan Flying Club, including the refund of student fees, resolution of employees’ concerns, and the submission of a report based on the audit and financial details of the club, the committee appointed a sub-committee for the refund of students’ fees from MFC and resolution of employees-related issues and sought a report based on the audit and financial details of the club.

The sub-committee consists of MNAs Dr Ramesh Lal (convener), Dr Darshan Choudhary Iftikhar Nazir and Dr Mahreen Razzaq Bhutto.

The meeting was attended by MNAs Aqeel Malik, Rana Ibadat Sharif Khan, Dr Darshan, Choudhary Iftikhar Nazir, Nauman Islam Shaikh, Ramesh Lal, Munaza Hassan, Muhammad Saad Ullah and Dr Mahreen Razzaq Bhutto.

Published in Dawn, November 14th, 2024

ISLAMABAD: The Federal Board of Revenue (FBR) has introduced a new payment creation solution, ePayment 2.0, as part of reforms to enhance revenue collection through advanced digital solutions.

The new payment system is available within the IRIS 2.0 portal, an advanced platform designed to simplify tax payment processes for taxpayers across Pakistan. Director General (IT&DT) Aisha Farooq inaugurated the ePayment System at PRAL Headquarters in Islamabad.

This innovative system enables secure, efficient, and user-friendly online payments, accessible directly from taxpayers’ bank accounts via Internet banking, ATMs, and mobile banking, eliminating the need for physical bank visits.

An official announcement said ePayment 2.0 marks a significant advancement in revenue management, covering a wide range of taxes, including income, sales, federal excise duty, and withholding taxes. Previously, taxpayers used a separate ePayment system outside IRIS 2.0, requiring them to switch between portals.

With ePayment 2.0, FBR has provided a unified and improved user interface that is accessible directly within IRIS 2.0. Generating a unique Payment Slip ID (PSID) enables quick and convenient payments for registered and unregistered taxpayers. Upon payment completion, a Computerised Payment Receipt (CPR) is issued via email and SMS, providing official confirmation and easy access for future use within the IRIS 2.0 system.

Further details show that through a secure, precise multi-step workflow, the system allows taxpayers to generate a PSID, complete payment through ADC channels, and receive a CPR in real-time, which is accessible for future compliance needs within IRIS.

It includes a comprehensive PSID search feature to enhance transparency and accountability, allowing taxpayers to retrieve and confirm payment records easily.

This level of automation and integration minimises errors and delays, significantly improving the tax payment experience and supporting FBR’s vision for a business-friendly, compliant tax environment.

With the introduction of ePayment 2.0, FBR has simplified the tax payment process and unified it within the IRIS 2.0 platform, providing taxpayers with a seamless, enhanced experience.

This integrated system eliminates the need for multiple logins and platform switches, offering a single, cohesive interface that is intuitive and efficient. Taxpayers now benefit from a streamlined process that brings all essential tax payment functions under one roof, making compliance more accessible and convenient than ever.

By prioritising user experience through a modernised, consolidated interface, FBR reaffirms its commitment to supporting taxpayers and fostering a more efficient, digitally progressive Pakistan.

Published in Dawn, November 14th, 2024

ISLAMABAD: The Ministry of Mari­time Affairs has prepared the draft of a new shipping policy, which includes provisions aimed at providing financial sec­u­rity to the owners of registered ships.

‘Pakistan Shipping Policy 2024’ will replace Pakistan Merchant Marine Policy 2001, as well as the amended version of 2019. The ministry organised a workshop of stakeholders on Wednesday to discuss the draft of the new shipping policy.

Maritime Affairs Secretary Syed Zafar Ali Shah, chairpersons of port authorities, senior officials of the maritime affairs ministry and stakeholders from the private sector participated in the workshop.

The policy makes it possible by legislation to furnish a bond of adequate amount to owners of any registered ship if it is detained or seized for any reason within the territorial jurisdiction of Pakistan, and it should be within 24 hours after taking the surety bond.

The secretary of maritime affairs informed participants of the workshop that the Shipping Policy 2024 has been made in accordance with the standards and rules of the International Maritime Organisation.

It was noted that the government should ensure that if the case is settled, the bail bonds are returned within one month.

In this regard, a help desk should also be established within the ministry of maritime affairs and special courts related to maritime affairs should also be set up having powers equal to high courts.

The draft proposes that the newly registered Pakistani shipping company will pay $0.75 per gross registered tonnage for five years, while currently the Pakistan National Shipping Corporation (PNSC) is paying $1 per gross registered tonnage on its revenue.

The rebate of $0.25 to new companies is likely to encourage domestic and national investors to show interest in maritime industry.

The draft has proposed that the registered Pakistani shipping companies would be allowed to seek financing from foreign financial institutions and banks.

A proposal to grant tax exemption for 10 years to new foreign shipping companies was brought forward by the participants of the workshop, and they stressed for assistance by state authorities to Pakistan shipping companies in opening foreign currency accounts.

Published in Dawn, November 14th, 2024

ISLAMABAD: The Ministry of Commerce and the World Bank have agreed to form a joint working group on trade to capitalise on the country’s true export potential.

The understanding was reached during a meeting of Commerce Minister Jam Kamal Khan with a team from the World Bank. Both sides agreed that the working group would meet periodically to advance the goal of realising Pakistan’s export potential of $60 billion.

An official announcement said both sides discussed Pakistan’s export reform agenda, focusing on strategies to enhance export competitiveness and streamline enabling policies.

The discussion also addressed how the World Bank can support these initiatives under the broader country programme.

Mr Kamal highlighted the whole-of-government approach to export enhancement, which promotes a unified policy framework to improve competitiveness and the Ease of Doing Business for exporters.

This strategy emphasises export-led growth by providing crucial enabling factors such as financing, liquidity support, reduced input costs, and regulatory facilitation to empower Pakistan’s export sector.

Published in Dawn, November 14th, 2024

KARACHI: The government on Wednesday raised Rs778 billion against the treasury bills (T-bills) auction target of Rs800bn, with minor changes in the cut-off yields for different tenors.

The State Bank of Pakistan reported that massive bids of Rs1.844 trillion reflected ample liquidity in the banking sector.

The government slashed the rate for three-month tenor by 20 basis points to 13.69 per cent while the yield on benchmark six-month T-bills was kept unchanged at 13.5pc.

However, the yield on 12-month papers increased by 10bps to 13.19pc.

Compared to the secondary market, the cut-off yields for three-, six- and 12-month T-bills were higher by 47bps, 36bps and 17bps, respectively.

The government is borrowing less than the investors’ expectations mainly because of the higher liquidity available in its accounts.

Published in Dawn, November 14th, 2024

QUETTA: The Balochistan government, in light of the prevailing security situation, has requested the federal government to deploy the army and Frontier Corps (FC) for the upcoming by-election in Sibi, as well as to suspend mobile services in Sibi and Kachhi on Nov 17.

In a letter to the federal Ministry of Interior, the Balochistan Home Department said the Election Commission of Pakistan (ECP) has called for foolproof security measures for the by-election in the Sibi-Lehri constituency.

As a result, the provincial government has formally requested the deployment of military and FC personnel to ensure the safety and security of the electoral process.

The Balochistan government aims to ensure a peaceful and transparent election in Sibi, as well as in areas where the election tribunal has ordered re-polling at disputed polling stations in Quetta and Mangochar.

Seeks suspension of mobile services on Nov 17

Additionally, the Home Department has requested the suspension of mobile phone and internet services in Sibi and Kachhi on Nov 17, the polling day for PB-8 Sibi, to prevent any security threats or disruptions during the election.

Re-polling in Kalat

Meanwhile, the ECP has announced that re-polling will be held in seven polling stations of the PB-36 Kalat constituency on December 1 this year.

The polling was postponed due to security concerns. The re-polling was ordered by the Balochistan High Court’s election tribunal on a petition filed by JUI-F candidate Sardarzada Mir Saeed Lango, who challenged the victory of BAP’s Mir Ziaullah Lango in the constituency.

Published in Dawn, November 14th, 2024

KARACHI: The country’s Advance to Deposit Ratio (ADR) has been gradually contracting and stood at 37 per cent in June, down from 41pc in December.

This was revealed in the latest issue of A.F. Ferguson & Co’s PwC Banking Publication — Road to Sustainability. This year’s release features core themes like economy, credit penetration and digital transformation, carries insights from over 25 industry leaders, over 10 local and global surveys, snapshots of over 40 international banks and over 10 geographic regions.

“Investment to Deposit Ratio (IDR), on the other hand, has surged from 33pc in 2007 to 88pc in 2023 and 94pc in Jun-24,” the publication reported. These key benchmarks, relative to certain other economies, indicate an enormous potential for credit penetration in the country, it added. There was a sharp rise in profitability on the back of higher margins and non-funded income from different avenues. However, higher tax charges triggered disproportionate moderation in baseline profitability.

The publication offered suggestions for sustained, long-term economic growth. One of the core themes discussed with industry leaders and senior professionals was the country’s economic outlook. Experts underscored the importance of addressing structural deficiencies to improve GDP growth and other key economic indicators.

Only 3pc of SMEs borrow from banks; 75pc farmers rely on informal sources for credit

“Consistent economic policies and actionable long-term roadmap of interventions were also stressed upon,” said the Banking Publication. Experts see increasing imports and consumption as harmful for balance of payments and foreign exchange reserves, it added.

“Opportunities for export diversification and import substitution are enormous, especially in agriculture and tech sectors,” said the report.

Agriculture and SMEs

According to the report, SMEs and agriculture are the backbone of the nation’s progress. “Contributing 40pc of GDP, SMEs constitute nearly 90pc of all private enterprises in Pakistan, generate 30pc in export earnings and employ one-third of the country’s workforce,” said the report. “Out of five million enterprises, fewer than three per cent borrowed from banks,” it reported.

It said around 75pc of farmers still rely on informal sources of credit. Despite its historic importance, access to affordable growth capital remains restrictive.

“Financing for these critical sectors has been declining over the years and currently stands below eight per cent of total loans,” said the Banking Publication. Lending to the private sector is at 12pc of GDP, it added.

According to the publication, deposits grew significantly by 24pc to reach Rs29.1 trillion in 2023, with a further increase of 12pc in June this year, touching Rs32.5tr.

“Advances rose by four per cent to Rs13tr, much lower than 16pc growth rate of 2022, with no further increase till June 2024,” the report added. A significant expansion of 42pc was noted in investments, which reached Rs25.6tr last year and rose by 19pc to Rs30.4tr by June this year.

Borrowings were up by 51pc to Rs11.3tr last year, and by 12pc in Jun-24.

Published in Dawn, November 14th, 2024

KARACHI: The stock market bounced back on Wednesday as investors indulged in value-hunting, helping the benchmark KSE 100 index partially recover overnight losses.

Ali Najib, Head of Sales at Insight Securities, attributed the market’s positive performance to continued buying activity from high-net-worth individuals and mutual funds, supported by improvements on the macroeconomic front, a stable rupee, and a decline in bond market yields.

In early trade, the benchmark KSE-100 index lost 281.49 points to 92,943.59 but rebounded on renewed buying interest, adding 579.02 points to hit an all-time high at 93,803.59 intraday. How­ever, the index settled at 93,355.43 with a trimmed gain of 130.86 points or 0.14pc day-on-day.

Ahsan Mehanti of Arif Habib Corporation said stocks showed recovery led by second and third-tier scrips on strong valuations.

He added that upbeat data on car sales surging 112pc year-on-year in October and the FBR assurance to IMF for dropping contingency measures on revenue, reversing fears about mini-budget were other factors that supported the positive performance at PSX.

Topline Securities Ltd said the market exhibited a consolidation phase, with the index reaching a peak of 93,804 and dipping to a low of 92,943.

The index was boosted by positive contributions from Mari Petroleum, Lucky Cement, The Searle, Engro Corporation, and POL, which collectively added 461 points. Conv­ersely, Oil and Gas Dev­elop­ment Company, Fauji Fertiliser, and Meezan Bank experienced some profit-taking, resulting in a combined loss of 213 points to the index.

The trading volume was up 1.78pc to 807.06m shares, and its value by 2.92pc to Rs31.68.

Stocks contributing significantly to the traded volume included WorldCall Tele­com (43.29m shares), Waves Home Appliances (33.20m shares), Pakistan Refinery (31.52m shares), K-Electric (27.45m shares) and Pak Elektron (26.99m shares).

The shares registering the most significant incre­ases in their prices in absolute terms were Rafhan Maize (Rs64.96), Philip Morris (Rs38.17), Mari Pet­ro­leum (Rs30.13), Lucky Cement (Rs28.64) and Packages Ltd (Rs28.37).

Foreigners remained net sellers as they offloaded shares worth $5.01m.

Published in Dawn, November 14th, 2024